Fox Run Management L.L.C. Decreases Stake in Zoom Video Communications, Inc. (NASDAQ:ZM)

Fox Run Management L.L.C. cut its stake in shares of Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) by 69.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,180 shares of the company's stock after selling 11,600 shares during the period. Fox Run Management L.L.C.'s holdings in Zoom Video Communications were worth $423,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Zoom Video Communications by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,297,443 shares of the company's stock worth $90,484,000 after acquiring an additional 78,940 shares in the last quarter. Cerity Partners LLC increased its stake in Zoom Video Communications by 263.9% during the third quarter. Cerity Partners LLC now owns 92,464 shares of the company's stock worth $6,448,000 after purchasing an additional 67,054 shares during the period. Algert Global LLC lifted its position in shares of Zoom Video Communications by 10.7% during the third quarter. Algert Global LLC now owns 9,841 shares of the company's stock worth $686,000 after purchasing an additional 951 shares in the last quarter. Swedbank AB boosted its stake in shares of Zoom Video Communications by 6.4% in the third quarter. Swedbank AB now owns 41,896 shares of the company's stock valued at $2,922,000 after purchasing an additional 2,518 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Zoom Video Communications by 7.8% in the third quarter. Daiwa Securities Group Inc. now owns 22,982 shares of the company's stock valued at $1,603,000 after purchasing an additional 1,669 shares in the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ZM has been the subject of several recent research reports. Scotiabank decreased their price target on shares of Zoom Video Communications from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, March 17th. Citigroup decreased their target price on Zoom Video Communications from $86.00 to $85.00 and set a "neutral" rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada restated an "outperform" rating and set a $95.00 price target on shares of Zoom Video Communications in a report on Wednesday, March 19th. UBS Group decreased their price objective on Zoom Video Communications from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group raised Zoom Video Communications from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, December 19th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $89.33.

Zoom Video Communications Stock Performance

NASDAQ ZM traded down $1.94 on Friday, reaching $74.84. The stock had a trading volume of 1,515,267 shares, compared to its average volume of 3,102,337. The stock has a market cap of $22.84 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 5.48 and a beta of 0.26. Zoom Video Communications, Inc. has a 12-month low of $55.06 and a 12-month high of $92.80. The business's 50-day moving average price is $79.78 and its 200 day moving average price is $78.23.

Insider Activity

In other Zoom Video Communications news, CEO Eric S. Yuan sold 75,531 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $74.98, for a total transaction of $5,663,314.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Santiago Subotovsky sold 2,475 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $77.86, for a total value of $192,703.50. Following the completion of the transaction, the director now directly owns 169,452 shares in the company, valued at approximately $13,193,532.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock valued at $29,689,595 in the last ninety days. 10.78% of the stock is currently owned by company insiders.

Zoom Video Communications Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.